Proton (XPR) Review
Proton (XPR) is a blockchain platform for smart contracts intended for both consumer and peer-payments applications. It builds on a safe layer of identities and financial arrangements that enables users to connect their actual identities and fiat accounts directly, draw money and purchase crypto and utilize this crypto smoothly in applications.
The XPR coin will be incorporated into the IOS, Android, and Desktop Lynx wallets from the first day on, and a series of decentralized apps. Shortly afterward, it will be included in Metal Pay for iOS and Android, Metal X for the Web.
Users’ Benefits of Using Proton
Proton is a platform designed to make crypto more accessible to daily users. The Proton was created by two companies: Metal and Lynx, as a collaborative effort. Metal has developed a compliant, consumer-friendly framework for peer payments. Lynx has created the Proton platform app-focused version. The firm aims to establish a single platform for consumers to trade in-app token wallets across encrypted currencies.
The XPR smart contract code is built on the EOSIO dPOS ultrafast technology, making it suitable for games and social media apps. By integrating the optional KYC identity store, Proton addresses identification issues, stores them in a central database, and makes them accessible for online identity checking. It makes it more secure and faster to purchase and trade cryptocurrencies.
How It Works
Proton’s transactions are documented on a blockchain that mainly records these payments and interfaces with the many entities involved. All users on this blockchain may have a confirmed identity, which is checked by an authorized ID provider.
The Smart contracts monitor the transaction status from the request sent to the transaction until the transaction has been completed. A modest cryptocurrency cost is paid to each recipient for starting a transmission request in order to avoid spam. A list of whitelisted recipients is also kept for each user in a distributed database.
The XPR token was intended as a limited supply token with modest yearly inflation, which allows dApps to maintain short-term value and blockchain governance. An initial 200 million XPR supply will be circulating with an annual token inflation of 5 percent. This token inflation will be divided between block producers 2.5% and Proton Steering Committee stakeholders 1% and token stakers 1.5%.
Token stakers vote for one-token, one-vote block producers. They must consent to bond tokens and expose them to a possible economic loss if the minimal criteria of performance of their selected block producers are not met. To vote, token stakers must also accept a one-month delay before the withdrawal.
The Proton Steering Foundation receives 1% of inflation every three months and votes. Its mission is to compensate for the work carried out on wallets, applications, and marketing efforts by development teams from Metal and Lynx. It will also promote ecosystem-wide inter-blockchain communication (IBC).
The maximum number of XPR crypto tokens is 10 billion, part of which may over time be released to expand the Proton ecosystem under new market circumstances.
Is Proton User-Friendly?
A major characteristic of Proton is that it has been built for optimum usefulness from the very beginning. On the first day, both the wallets Metal Pay and Lynx will incorporate it natively. With a combined user base of over 200,000 accounts, XPR sends a new standard for Day 1 usage across accounts and inside applications like Chirp and games like BombSweeper.
Is Proton legit?
Yes, Proton is legit as it has been developed by the San Francisco-based Metal team and has created one of the top compliance systems for fiat transfer and crypto-exchange 1-1. The Lynx team in Los Angeles, CA, and Raleigh, NC, have created the top English-speaking mobile EOS wallet.
Proton is the first quick, inexpensive KYC and fiat-crypto blockchain built on the go. It is intended for applications like gaming and social media, and for the easy and quick transfer of money from one person to another. The online push-to-wallet transaction notification enables applications and websites to communicate directly with customers without the exchange of identifying personal information.
Further Proton Information
- Price $0.0023
- Market Cap